2 BPO staffers access Coinbase user data
BANGALURU: Two India-based employees of US BPO TaskUs illegally accessed sensitive information belonging to their client, Coinbase. These staff members were allegedly part of a larger criminal operation targeting Coinbase, which also affected other service providers working with the cryptocurrency exchange.
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Time of India
27 minutes ago
- Time of India
Crafting luxury: How this Jaipur-based MSME is winning India's elite
Jaipur-based ARL Group , known for its Specta Quartz Surfaces brand, has spent 30 years in the utility building material industry. After years of focusing on functional products, the company decided to diversify into the luxury segment, expanding its portfolio to cater to high-end customers seeking premium building materials. The Group explored new opportunities for diversification and discovered engineered quartz stones at exhibitions. Intrigued, they began a comprehensive study of the product and conducted global market research to understand its potential and trends. This helped them in evaluating the demand, competition, and potential applications of engineered quartz stones in the luxury segment, says Ankit Jain, Founder of Specta Quartz Surfaces, a luxury brand specialising in engineered quartz surfaces. 'Globally, the market is huge, and it is a very well-accepted product,' adds Jain. The global quartz market, estimated at $7.62 billion in 2025, is expected to grow at a CAGR of 4.19% to reach $9.35 billion by 2030. The Indian quartz market is projected to grow at a CAGR of 8.4% to reach $2,462 million by 2026. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Bank Owned Properties For Sale In Tan Dinh (Prices May Surprise You) Foreclosed Homes | Search ads Search Now Undo 'We saw an opportunity to enter a new product line, leveraging export markets to kickstart growth while simultaneously investing in the Indian market to build our brand. This strategy allowed for a beneficial synergy between international expansion and domestic development,' says second-generation entrepreneur Jain. As these luxury projects continue to grow in volume, there is a growing demand for luxury interior materials like quartz surfaces for kitchen and washroom countertops and wall cladding, says Jain. The entrepreneur identified an opportunity in the market for high-quality quartz surfaces, particularly those manufactured using Italian technology, which is preferred by discerning buyers for its superior quality and durability compared to Chinese alternatives. Live Events Ankit leveraged his manufacturing expertise and built India's first manufacturing facility with the Italian Bretonstone technology in the Bagru Industrial Area , Jaipur, Rajasthan. For the uninitiated, Bretonstone is the gold standard in engineered quartz manufacturing worldwide. This Italian technology enables the creation of highly durable, design-consistent, and hygienic quartz surfaces that are ideal for modern living spaces. 'We were only the third company in India to do so and the first to focus so much on the Indian market. This decision has paid off, as Specta's designs are now a benchmark in the industry,' says Jain. India's luxury housing market The growth of luxury real estate and consumption in India has fuelled the demand for high-end home products, says Jain. As people invest more in their homes, especially kitchens and bathrooms, the market for premium materials like quartz surfaces has naturally expanded, offering an opportune time for brands like Specta Quartz Surfaces to capitalise on this trend, adds Jain. Luxury housing units priced above Rs 1.5 crore account for around 17% of new residential launches in India, according to ANAROCK Research's 2024 data. The luxury homes priced over Rs 1 crore dominated sales in 2024, crossing the 50% mark. Specta is planning to open six exclusive experience centres, including flagship locations in Mumbai, Jaipur, and Ahmedabad. The Jaipur-based MSME has made strides in the stone surfaces market, successfully catering to high-end customers seeking premium building materials. It has achieved nearly Rs 150 crore in revenue within just three years. The company also supplies its products to the Middle East. The price of Specta's products ranges from Rs 500 per sq ft to Rs 2,000 per sq ft depending on design intricacies and colours. 'Our turnover (revenue) has steadily grown from Rs 23 crore in 2022-23 to Rs 90 crore in 2023–24, with an EBITDA of Rs 4 crore. The provisional figures for 2024-25 show continued momentum, with turnover reaching Rs 145 crore, underscoring strong demand, strategic execution, and improved profitability,' says Jain. Over the next one year, Specta is expecting a revenue of Rs 300 crore. Specta Quartz Surfaces is working to boost capacity by year-end and aims for 50% year-on-year revenue growth over the next three years. To drive this expansion, the company is launching six exclusive experience centers, with flagship locations in Mumbai, Jaipur, and Ahmedabad, as part of its strategic retail growth plan. How is the sector placed? Aarti Harbhajanka, Co-founder, CHRO & MD, Primus Partners, says that India's luxury market, including premium building materials like engineered quartz surfaces, is growing steadily due to rising disposable incomes, urbanisation, and demand for high-end interiors. 'The engineered quartz segment is expected to expand at a compound annual growth rate (CAGR) of 8-12% over the next five years, driven by real estate development and an increasing preference for durable, aesthetically pleasing surfaces, adds Harbhajanka. However, Harbhajanka cautions that India's engineered quartz market also faces hurdles like price sensitivity due to competition from affordable alternatives such as ceramics and laminates. Additionally, the industry struggles with high import dependency on raw materials and consumer preference for traditional marble, she says. The Jaipur-based MSME has made strides in the stone surfaces market, successfully catering to high-end customers seeking premium building materials. 'Logistics complexities, considering the weight of the quartz and sustainability concerns around silica sourcing and carbon emissions, may add further hurdles. However, manufacturers are countering these issues through localised production and eco-friendly innovations,' adds Harbhajanka. Specta's operating model Specta's business model leverages partnerships with architects, designers, and developers, wherein Specta, founded in 2022, integrates its premium surfaces into luxury residences, commercial spaces, and hospitality projects. Also, it has recently expanded into retail and direct-to-consumer sales for its next phase of scaling. Specta operates in 80 tier-II and tier-III cities across India, supported by a robust network of approximately 60 distributors and 300 dealers. Our business follows a B2B model, wherein we dispatch products from our factory directly to our distributor network, who then handle local logistics and last-mile delivery. 'While our transactions are B2B, over 95% of our sales cater to retail homeowners, facilitated by our dealer ecosystem. Our sales team also works closely with kitchen installers, architects, and designers who act as key influencers, helping get our products specified in premium residential and commercial projects,' says Jain. The company also partners with modular kitchen brands like Livspace, Spacewood, Arancia, and Nolte, who showcase its quartz surfaces in their showrooms. 'When customers place orders, our distributors handle fulfilment. Meanwhile, our business development team collaborates with these kitchen installers and architects in major cities to pitch and showcase our products,' he adds. However, Jain agrees that the product is still at a very nascent stage in India. But he is hopeful more and more people will access the product since people's spending power in India has increased over the years. More than the spending power, the willingness to spend has increased, says Jain. 'With luxury kitchens ranging from Rs 25 lakh to Rs 1.5 crore, high-end consumers aren't satisfied with basic materials like granite. Brands like Nolte and Livspace cater to this demographic, where premium quartz surfaces become a natural choice for those investing in high-end kitchen designs,' adds Jain. Expansion plans Specta, which has so far managed its working capital entirely through bank credit, is planning to open six exclusive experience centres, including flagship locations in Mumbai, Jaipur, and Ahmedabad. 'This is a part of our retail expansion strategy and will help us bring our products closer to customers in high-demand areas. Additionally, we are also banking on the rising luxury real estate market in tier-II and tier-III cities to expand our customer base within the luxury homeowner segment in these regions,' says Jain. The company has also invested in a new manufacturing plant, which will become operational by the end of the year. 'This plant will increase our capacity by almost 150%, and it will be capable of producing super-jumbo slabs and ultra-thin 7mm slabs with unique design possibilities. This advancement will open new applications beyond traditional surfaces, reinforcing Specta's position as an industry leader in innovation and design,' adds Jain.
India Today
34 minutes ago
- India Today
SSC launches mobile-based application process for government job aspirants
In a big push towards making government job applications easier and more accessible, the Staff Selection Commission (SSC) has launched a fully upgraded version of its mySSC mobile app. The app, now live on the Google Play Store, will allow candidates -- especially those from rural areas -- to fill and submit their applications for SSC exams entirely through their mobile move is expected to reduce the need for visiting computer centres or relying on cyber cafes, which many candidates, particularly in remote areas, had to depend on until now.'Candidates can now complete the full application process on the app, including Aadhaar-based OTP and face authentication,' said SSC Chairman S Gopalakrishnan. 'It will help reduce costs and remove middlemen from the process.' The app, developed in partnership with Cubastion Consulting, is part of a broader effort to make the entire SSC recruitment cycle—from registration to final selection—more secure, transparent, and CHANGER FOR RURAL INDIARavi Kumar, co-founder and CEO of Cubastion, noted that many aspirants earlier had to pay to use private facilities for form-filling.'Now, with the new mySSC app, we're giving control back to the candidates. This is especially beneficial for people in rural and semi-urban areas,' he app supports Aadhaar face authentication, offering biometric identity verification as part of a broader strategy to ensure fairness and transparency in mass hiring. According to officials, starting June 2025, all SSC exam applications can be completed directly through the candidates need to knowThe app is only compatible with Android phones (version 11 or higher).Candidates must register using their Aadhaar number on the One Time Registration (OTR) must also install the Aadhaar Face RD app to complete the face verification an important clarification, the SSC confirmed that candidate-provided information during registration will be treated as final, and Aadhaar demographic details will not override SSC had earlier announced that it would begin using Aadhaar-based biometric verification on a voluntary basis in all its one of the largest central government recruitment bodies, this upgrade to digital processes is seen as a significant step in making government job opportunities more accessible and transparent.(WITH PTI INPUTS)
Time of India
44 minutes ago
- Time of India
Tesla is being eaten alive by Chinese rivals it inspired
HighlightsTesla's shipments from its Shanghai factory fell by 15 percent in May compared to the previous year, marking eight consecutive months of declining output from its largest electric vehicle factory. Tesla's share of China's battery electric vehicle market has decreased by more than half over the past four years, now accounting for only about 10 percent of sales, and dropping to 5.8 percent when including other new energy vehicles like plug-in hybrids. Despite Tesla's high reputation in China as a catalyst for the electric vehicle industry, domestic competitors like BYD Company Limited are now providing more appealing options at lower prices, leading to a rapid erosion of Tesla's market position. The biggest story swirling around Tesla Inc. right now concerns Chief Executive Elon Musk 's sudden, if unsurprising, break with a leader who is as calm and unassuming as he is, President Donald Trump . The important story concerns what is happening far from these shores: China. Shipments from Tesla's Shanghai factory fell by 15per cent in May compared with a year before, according to preliminary data from China's Passenger Car Association. That marks eight straight months of declining output from Tesla's single biggest electric vehicle factory, accounting for around 40per cent of its global capacity. These figures don't break out which of those EVs get sold in China or get exported from there, but this trend is not Tesla's friend. Through April, its share of China's battery EV market had fallen by more than half over the past four years, according to data compiled by New AutoMotive, a UK-based research firm. The numbers also suggest deteriorating economics. On a simple, calendar-day basis, they imply Shanghai factory utilization of 76per cent in May. That isn't terrible, but it's down significantly from last May. So far this year, excluding the month of February when Tesla was retooling for the refreshed Model Y, implied utilization is running 10 points lower than the same period in 2024. Speaking of that updated Model Y, it isn't a good sign that Tesla has already offered incentives like zero-percent financing in China. Taken together, lower capacity utilization, implying higher fixed costs per vehicle, and higher discounts, meaning less net revenue, point to a continuing problem with what was all too apparent in Tesla's first quarter results: Crushed profit margins in its main business. Unlike Tesla's weaker EV sales in other important markets such as California and Europe, the slide in China has nothing to do with Musk's politics. Tesla's reputation within China remains high, viewed as an essential catalyst in revolutionizing the quality and scale of the country's auto sector. Except that 'catalyst' isn't quite the right word, because the beauty of catalysts is that they spark transformations but don't get used up in the process. In this case, it would be more accurate to call Tesla a reactant, because the domestic Chinese EV industry spurred on by its example is now eating it alive. While Tesla's share of China's battery EV sales is down to about 10per cent so far this year, that drops to 5.8per cent when you include other so-called 'new energy vehicles' such as plug-in hybrids, according to figures compiled by Goldman Sachs Group Inc. Competitors including BYD Co. Ltd., which holds about 27per cent of China's NEV market, are now delivering the sort of excitement that Tesla used to in terms of looks, range and driver assistance features — and at lower prices. Xiaomi Corp., the smartphone maker, is in the process of launching the YU7, a high-tech, fast-charging electric SUV that resembles a Porsche or Ferrari but is perhaps best pictured as a Model Y-seeking missile. In an alternate dimension, China would serve as a hothouse laboratory for Tesla to hone world beating, profitable EVs that might even be exported to its home market. In the dimension we've got, Musk has seemingly lost his ambition to develop brand new, affordable EVs that can compete across the world. Tesla's last genuinely new model, the Cybertruck, is certainly big but only about as 'beautiful' as the Trump tax bill that Musk now openly derides as an 'abomination.' While Tesla sits apart from the legacy automakers in the US, Germany and Japan in many respects — certainly in terms of valuation — it has, like them, seen its position in China eroded rapidly. And regardless of Musk's latest posts on X, he worked hard to secure the election of a president and Congressional majority intent on crushing EV sales in the US. With the end of the second quarter approaching, and the sales figures emanating from China and Europe portending another set of weak earnings, it is perhaps little wonder that this narrative is crowded out by all manner of other things. Musk, who ditched Tesla's public relations team and routinely denounces the media as 'propaganda' has nonetheless plunged into a media blitz of late, and has now whipped up a new political intrigue. Is the break with Trump real? My litmus test: watch out if @elonmusk posts a picture of a taco. Plus, of course, we have the imminent launch of Tesla's self-driving cars in Austin. Whatever they actually turn out to be, with the always dubious narrative of Musk's White House job boosting Tesla's fortunes now played out, those robotaxis constitute the main pillar supporting Tesla's triple-digit earnings multiple. Certainly, that number has nothing to do with what's happening in the biggest EV market on the planet.
